Intro to Business Ch 2

This is the most widely used measure of national output.

This people in the labor force who are willing/looking for work, but are unable to find it.

Represents the cost of money

This is the total dollar value of all final goods and services produced each year in a country.

Movement of the economy from one condition to another

A time where most people have jobs, wages are good, there's high production, GDP is increasing

An increase in prices and a decrease in the buying power of the dollar

A situation where a government spends more money than it takes in over a period of time

This is the monthly measure of all sales of durable and nondurable goods bought by consumers.

A phase represented by an increase in employment, demand for goods, and the GDP

Although there is a decrease in prices, people have less money to buy products

This is used to compare the prices of a group of selected items each year to some earlier year?

A time where unemployment is rising, demand begins to decrease, and businesses lower production

Can be increased by an improvement in management techniques

Represents ownership in a corporation